ACA qualified accountants have never had it so good and are now earning
higher salaries than ever before.
Research by Morgan McKinley found that the average compensation package
offered investment banks and financial services firms in London was now worth
Product controllers at investment banks can now earn an average salary of
£52,000, a 6% increase on 2005 levels and 22% higher than in 2003. Bonus
payments added a further £13,000 to pay packages.
ACAs working as financial controllers and internal auditors were earning
packages of £58,800 and £54,000 respectively.
The growth in remuneration for accountants was driven by rising demand from
London firms and reduced levels of availability.
Robert Thesiger, chief executive at Morgan McKinley said the findings showed
that accountants were benefiting from ‘an extremely tight candidate market’.
Thesiger added that new routes into investment banking were now opening up
for newly qualified ACAs.
‘Corporate finance and equity research divisions are now willing to hire
talented newly qualified ACAs at entry level and train them into roles,’ said
Thesiger. ‘In the past, ACAs wanting to forge careers within these areas would
have had to have had previous banking experience behind them first.’
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